DETROIT (WKZO) -- Fiat is gobbling up the rest of Chrysler. The Italian automaker has reached an agreement to buy the 41-percent stake in Chrysler that it didn't already own.
Fiat is buying the stake from a retiree healthcare trust affiliated with the United Auto Workers union. The trust will get over three and a-half billion dollars in cash.
Once the deal closes, it will get an additional 700-million-dollars from Chrysler.
The deal, which ends months of negotiations, is expected to close later this month.